1. National income in India is estimated by ?

  1. Reserve bank of India
  2. Ministry of finance
  3. Central statistical organisation
  4. Planning commission of India
View Answer

Answer: Option(C).


Memory: Central statistical organisation is a governmental agency in India and is responsible for statistical activities in India. It is loacted in Delhi.

2. Who had first estimated national income in India ?

  1. Jawahar lal nehru
  2. Dadabhai naoroji
  3. Dr. B.R. Ambedkar
  4. R.C. Dutt
View Answer

Answer: Option(B).


Memory: Dadabhai naoroji is also known as “Grand Old Man of India”. He was an Indian scholar, trader, and politician.

3. The primary source of national income in India is ?

  1. Transport sector
  2. Manufacturing sector
  3. Agriculture sector
  4. Tourism sector
View Answer

Answer: Option(C).


Memory: Agiriculture sector is still the primary mainstay since independence and it contributes about 17% to the total GDP and provides employment to over 60% of the total population.

4. Agriculture income in India is calculated by –

  1. Export method
  2. Import method
  3. Input method
  4. Output method
View Answer

Answer: Option(D).


Memory: No memory available.

5. The term ‘GNP’ stands for –

  1. Gross Net Product
  2. Gross Net Profit
  3. Gross National Product
  4. Gross National Profit
View Answer

Answer: Option(C).


Memory: No memory available.

6. Which sector of Indian economy keep highest achievement in the GNP ?

  1. Tertiary sector
  2. Public sector
  3. Primary sector
  4. Both and [B]
View Answer

Answer: Option(A).


Memory: Tertiary sector of Indian economy includes Transport, communication, Services, and Business.

7. National Income is the measurement of ________ in a given time period.

  1. Purchase power of economic system
  2. Production power of economic system
  3. Both and [B]
  4. None of the above
View Answer

Answer: Option(B).


Memory: No memory available.

8. Per capita income of a country is obtained from ?

  1. Total national revenue
  2. Population of a country
  3. National income of a country
  4. Both and [C]
View Answer

Answer: Option(D).


Memory: Populationa growth and national income are the two important factors in determining per capita income of a country.

9. GNP = ______ + X – M ?

  1. NNP(MP)
  2. GDP(MP)
  3. NNP(FC)
  4. GDP(FC)
View Answer

Answer: Option(B).


Memory: GNP = GDP(MP) + X – M , where, GNP = Gross national product , GDP(MP) = Gross domestic product at market price, X = Income earned and received by nationals within the boundaries , M = Income received by foreign nationals within the country.

10. Depreciation is equal to –

  1. Net national income – Net foreign income
  2. Gross national product – Net foreign income
  3. Net national product – Gross national product
  4. Gross national product – Net national product
View Answer

Answer: Option(D).


Memory: No memory available.

11. Economic growth of a country increases with the increase of ?

  1. Gross domestic product
  2. Gross national product
  3. Per capita income
  4. Net national product
View Answer

Answer: Option(C).


Memory: Per capita income is also a vital indicator of how economic growth of a country is improving/declining.

12. Which of the following countries has the lowest GDP per capita ?

  1. India
  2. Sri lanka
  3. Indonesia
  4. China
View Answer

Answer: Option(A).


Memory: No memory available.

13. The term “NNP” stands for –

  1. Net national product
  2. Net national profit
  3. Net national product
  4. None of the above
View Answer

Answer: Option(A).


Memory: No memory available.

Related Post

1. Economic System
2. Nature of Indian Economy
3. Agriculture Development in Indian Economy

Related Category

1. Computer
2. Biology
3. Physics

Our Social Profile